In Asian trade the troubled euro was changing hands at $1.3262, slightly up from $1.3258 in New York late Tuesday.

The European single currency also firmed to ¥110.83 from ¥110.64, while the dollar edged up to ¥83.59 from ¥83.45.

Investors in China remain cautious ahead of an annual Central Economic Work Conference expected this month as well as a likely rate hike to calm inflation.

“China may raise interest rates ahead and its stance on inflation will also be key in guiding the near-term market direction," said Louis Tse, director at Value Convergence CEF Securities in Hong Kong.

Gold miners led the downward trend among Chinese stocks as the precious metal slipped from a record-high price in London on Tuesday of 1,431.25 dollars an ounce.

Gold opened at $1,400.50-1,401.50 an ounce in Hong Kong, compared with Tuesday’s Hong Kong close of $1,423.00-1,424.00.

Brazil’s Vale fell slightly on its Hong Kong trading debut as the mining giant became the the first South American firm to list on the city’s bourse in a bid to tap the massive Chinese market.